The U.S. Department of Agriculture (USDA) released the January “World Agricultural Supply and Demand Estimates” report Friday, revealing a higher 2023 red meat and poultry production forecast than last month. The higher forecast, at 106.91 billion lbs., was due to higher beef, pork, and broiler production in the fourth quarter, the report noted. USDA also raised its 2024 forecast, from 106.60 billion lbs. to 106.97 billion lbs., on higher expected beef, pork, and broiler production.
USDA raised the 2024 beef forecast due to higher expected first-half cattle slaughter, as well as higher…
